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Global Remittances Will See 20% Drop Amid Pandemic – World Bank Group

Falling wages and rising unemployment among migrant workers will lead to the sharpest drop in recent history, according to the Group’s report.

24 Apr 2020

UN PRI Seeing Mexico, Chile and Other LAC Governments’ Bolstering Commitments to Sustainable Investing

The UN Principles for Responsible Investment (PRI) is a global initiative that promotes responsible investment. Bonds & Loans spoke to Eduardo Atehortua, the Director of PRI for Latin America, about promoting sustainable investing among the region’s governments, the challenges associated with the “social” part of ESG in Latin America, and whether ESG-linked securities will prove to be among the…

23 Apr 2020

Emerging Market Corporate Debt Slower to Recover than DM Bonds After Liquidity Crunch

Among the highest capital outflows on record from emerging economies resulted in huge liquidity shortages and price corrections, but the recovery is taking longer than some hoped.

22 Apr 2020

BlackRock Hits Pause on Emerging Market Local Debt Citing FX Concerns

BlackRock is shifting gears on emerging market local debt on the back of what it sees as further currency depreciation risk following the introduction of easing measures in some developing countries.

22 Apr 2020

Is It Time for Asset Allocators to Address Climate Risk as Investment Risk?

While world governments take action to mitigate a climate catastrophe, asset managers should start abandoning investment models that treat climate-related risk as something tangential or exogenous to investment risk.

21 Apr 2020

IMF Debt Relief Programmes May Lead to More Defaults in Private Sector – Moody’s

This week the IMF announced plans to provide USD500mn in debt relief to some of the world’s poorest countries under its Catastrophe Containment and Relief Trust. All countries eligible for concessional financing from the World Bank are targeted by the G7’s debt service payments.

20 Apr 2020

Brown Brothers Harriman: EM Preview of the Week Ahead

EM is coming off a difficult week in which all the economic data underscored just how bad the global outlook has gotten. While risk sentiment ended last week on an upbeat note, we believe EM and other risk assets will have difficulty getting much traction as the data continue to worsen. Oil prices remain under pressure and that is likely to weight on sentiment as well.

20 Apr 2020

EM Bond Covenants Strengthen Slightly – Moody’s

Emerging market covenant scores have improved slightly in the six months prior to 31 March, according to a recent report from Moody’s. The period saw covenant quality scores strengthen to 3.25 from 3.35 over the same period a year prior – far stronger than those seen on bonds issued in EMEA and North America, exceeding them in all categories except one.

20 Apr 2020

Sukuk Issuance to Plummet in 2020 – S&P

A toxic cocktail of low oil prices and widespread disruption caused by the COVID-19 pandemic looks set to severely inhibit sukuk issuance in 2020, according to a recent report from S&P.

15 Apr 2020

IMF Downgrades Global Growth, Signals ‘Worst Recession Since Great Depression’

The IMF has downgraded its global growth forecast for 2020 by 6.3% in just the span of a few months as lockdowns designed to contain the spread of COVID-19 dampen economic activity and send commodity prices tumbling. The Fund’s Economic Counselor and Research Department Director Gita Gopinath said the impending recession would be the worst since the Great Depression.

15 Apr 2020

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